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Neil Shen, founding partner of Sequoia Capital China.
WUZHEN, China — The head of Sequoia Capital’s China affiliate said Thursday there are still big opportunities for growth from the country’s digital economy, contrary to many concerns about a slowdown.
“As an investment firm enthusiastically participating in China’s information industry, we still think the Chinese Internet sector has Great prospects,” Neil Shen, founding as well as managing partner of Sequoia Capital China, said at a press event at the planet Internet Conference, according to a CNBC translation. “Every year, our investment size as well as pace has been increasing.”
Shen also said he believes the consumer-oriented internet still includes a very big opportunity for future development, as well as in which the industrial-oriented internet will develop quickly, especially with the support of artificial intelligence.
Sequoia is usually an investor in China’s largest technology companies, including e-commerce giant Alibaba, ride-hailing company Didi as well as Meituan Dianping, which went public in Hong Kong in which year. Shen is usually also a co-founder of Chinese tourism booking site Ctrip.com.
Many worry China’s burgeoning technology industry will be hit by a national economic slowdown. Some recent data reports have been soft, adding to concerns in which increasing trade tensions with the U.S. will cause growth to slow even further. Beijing, for its part, has announced a slew of policy measures from the last few months to support the economy.
Shen, however, pushed back Thursday against concerns about trade tensions as well as a cold spell for the Chinese tech sector.
“My sense is usually the digital economy is usually something unique to China,” he said. “I don’t think in which will be affected in which much by a U.S.-China trade war.”